Full question:
I currently own a house with my wife. It is marital property as it was acquired after we got married. We are moving out and I would like to rent the house. Do we both (my wife and I) need to sign the paper work to generate a legally binding contract with a tenant? Would one of the owners (either her or I) alone be able to rent the house to a qualified tenant without the other's signature?
- Category: Marriage
- Subcategory: Marital Property
- Date:
- State: National
Answer:
Typically, when a husband and wife jointly own a home, they are either joint tenants or tenants by the entirety, depending on the deed's language. If the property is held as tenants in common, each owner can transfer their interest without the other's consent. However, joint tenants cannot convey or encumber another's interest without authorization.
When one joint tenant leases their interest in the property without the other’s consent, the lease is valid and benefits both joint tenants. The lessee can use the property but cannot demand exclusive possession against the non-consenting co-tenant. If the non-consenting joint tenant does not ratify the lease, the leasing joint tenant must account for any excess rent received during the lease period.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.